TAVA Technologies (TAVA-NASDAQ) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : TAVA Technologies (TAVA-NASDAQ)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: John Hanzl who wrote (6739)	12/2/1997 5:00:00 PM
From: Tim J. Flick	Read Replies (2) of 31646

PRIVATE PLACEMENT NOW PUBLIC PRIVATE PLACEMENT. On November 21, 1997, Topro, Inc. (the "Company") completed a private sale pursuant to Section 4(2) of the Securities Act of 1933 (the "Act") of 955,000 shares of Common Stock for gross proceeds of $5,252,000. The securities were sold to four "Qualified Institutional Investors" as defined in Rule 144A under the Act and two institutional "accredited investors" as defined in Regulation D of the Act. The shares are "restricted securities" which may not be offered or sold absent registration or an exemption from the registration requirements of the Act. The purchasers were granted certain registration rights with respect to the shares of Common Stock. To the extent the shares are not timely registered as required, an aggregate of 95,500 Common Stock Purchase Warrants, exercisable at a price of $5.50 per share, will be issued to the purchasers. The Company's placement agent was paid a cash commission equal to 8% of the gross proceeds of the offering. The Company plans to apply the net proceeds of the offering to working capital.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next